How To Buy A Multi Million Dollar Life Insurance Policy In 2024 - PinnacleQuote

How To Buy A Multi Million Dollar Life Insurance Policy In 2024

You are here inquiring about a multi million dollar life insurance policy and you came to the right place.

If you are covering a large real estate purchase and need a 10 million dollar life insurance policy, you came to the right place. Or, maybe you are covering 20 years of income to protect your family with a 3 million dollar life insurance policy, you came to the right place.

Heck, we even get calls for a 50 million dollar life insurance policy which is considered a reissuer policy, we got you covered.

Overall, we will hold you by the hand and make this experience enjoyable and efficient as you are now talking to the experts. Read on and enjoy.

High Net-Worth Individuals And Life Insurance

Above all, purchasing a multi-million dollar life insurance policy sounds like a lot.

I mean to the average American the idea of needing a 2 million dollar insurance policy, a 30 million dollar life insurance policy, or even a 100 million life insurance policy seems unimaginable.

Whether it is term life insurance or universal life insurance it is very important to talk to an independent agent for these types of life insurance quotes.

Furthermore, going with a 30-year term or a 15-year term will really come down to the health class which will determine the rate.

In this article we will break down the affluent consumers and why they, in fact, need these ridiculous policy amounts.

Stay tuned for multi million dollar quotes.

Multi-Million Dollar Life Insurance Policies

Let’s get to it…..

How much does a million-dollar insurance policy cost? Forget that, what about a multi-million dollar life insurance policy?

In some cases, consumers sometimes have more to protect than just their spouse and children or assets such as a home.

Furthermore, a one-million-dollar policy just won’t be enough.

In fact, a multi-million dollar life insurance policy might be a good way to protect assets to prevent uncle sam from taking a big bite out of your estate after you pass away.

If you have a net worth in the 8 to the 9-figure range that can be a very very big chunk! If you are an affluent consumer, then you worked hard to accumulate assets over the decades.

In this day and age having a 10 million, 100 million, or even a billion-dollar net worth is not something that’s unheard of.

In fact, there are 11 million millionaires in this country and more than 550 billionaires in the US, the most of any country.

So you have a lot to protect and a multi-million dollar policy would help to properly protect assets.

What is the highest life insurance policy ever written?

The Biggest Life Insurance Policy Ever Sold Was From A Billionaire In Silicon Valley For $201 Million, A Guinness World Record!

A policy that large could put an insurance carrier out of business, so the risk was spread out over 19 different companies each with less than $20 million.

Read more about this by clicking here.

So Let’s Have Some Fun. Let’s See What These Mammoth Policies Cost!

The Best Life Insurance Companies for High Net Worth Individuals

When considering life insurance coverage for high net worth consumers it’s very important to consider the best insurance carrier.

Whether it be universal life, level term, or permanent life insurance the amount of life insurance is just as important as picking the carrier.

First of all, when I have a high net worth client the most important is qualifying him for his rating class which will determine the life insurance rates. Medical conditions such as high blood pressure if controlled will not be considered high risk.

Furthermore, having a candidate in excellent health will always make the process go smoother.

In fact, that is what you strive for when buying life insurance for high net worth consumers. Whether it’s an affordable term or whole life, that is what we strive for!

The top 5 carriers I like to use when determining coverage for affluent clients have the qualities to make sure the death benefit will secure the family financially for the future.

Let’s face it, applying for a 10 million, 25 million, 50 million, or 100 million dollar policy is more than just taking a medical exam!

Here are our top 5:

  1. Prudential 
  2. AIG 
  3. Protective Life 
  4. Pacific Life
  5. American National (Living Benefits)

It is important to know that age and income are factored in when purchasing life insurance.

Above all, the carrier does not want you to worth more dead than alive.

Here are the basic multiples of income that a carrier will allow before asking questions to make sure you are not overinsuring.

AGEMultiples of Income
Under 30Up To 40x

What Would A 100 Million Dollar Life Insurance Policy Cost

Above all, if you are lucky enough to be placed in a decision to have to get a multi-million dollar policy such as $100 million in coverage life must be good.  

However the old saying, “More money more problems” might have some validity to it.

But who are we kidding, if you are getting a $100 million dollar policy life is pretty good!

With that said, chances are if you are purchasing a 100 million dollar life insurance policy you are probably a CEO of a technology company or owner of a retail store chain like the Waltons owners of Walmart.

Bottom line, you are not worried about getting cheap burial insurance that’s for sure.

Again, if you are looking into a hundred million dollars in coverage you might be one of these people.

I am sure they are not concerned about non-guarantees vs guarantees of a policy.

Forbes Top 10 Billionaires (As of 2023)

The 2023 Forbes Billionaires List

Rank Name Net Worth Age Country / Territory Source Industry
1 Bernard Arnault & family $211 B 74 France LVMH Fashion & Retail
2 Elon Musk $180 B 51 United States Tesla, SpaceX Automotive
3 Jeff Bezos $114 B 59 United States Amazon Technology
4 Larry Ellison $107 B 78 United States Oracle Technology
5 Warren Buffett $106 B 92 United States Berkshire Hathaway Finance & Investments
6 Bill Gates $104 B 67 United States Microsoft Technology
7 Michael Bloomberg $94.5 B 81 United States Bloomberg LP Media & Entertainment
8 Carlos Slim Helu & family $93 B 83 Mexico Telecom Telecom
9 Mukesh Ambani $83.4 B 65 India Diversified Diversified
10 Steve Ballmer $80.7 B 67 United States Microsoft Technology

Another reason for getting such a large amount of coverage is to secure a mammoth loan!

Maybe you are purchasing a professional sports franchise, or buying a Super Yacht​ just to name a few.

So how much does a 100 million dollar life insurance policy cost?

Yes, I said it, 100 million dollars!!

Well, if you are established, the average age for becoming a billionaire is 51.

So this example will be from a 51-year-old healthy male and female who are purchasing 100 million dollars of coverage.

100 Million Dollar Life Insurance Policy Cost For A Male

Below are the rates for $100,000,000 life insurance policy for Term, Universal Life, and Whole Life.

This table will be age range 20-80.

20/Male10 Year Term$1,272.25$14,540.00
20 Year Term$2,486.31$28,415.00
30 Year Term$4,433.83$50,672.30
Universal Life$21,370.00$251,030.00
Whole Life$45,705.60$548,467.00
25/Male10 Year Term$1,272.25$14,540.00
20 Year Term$2,486.31$28,415.00
30 Year Term$4,433.83$50,672.30
Universal Life$24,950.00$293,040.00
Whole Life$55,987.20$671,846
30/Male10 Year Term$1,272.25$14,540.00
20 Year Term$2,486.31$28,415.00
30 Year Term$4,903.50$56,040.00
Universal Life$30,660.00$360,050.00
Whole Life$68,256.00$819,072.00
35/Male10 Year Term$1,471.31$16,815.00
20 Year Term$2,827.56$32,315.00
30 Year Term$5,895.75$67,380.00
Universal Life$36,380.00$427,070.00
Whole Life$82,339.20
40/Male10 Year Term$2,051.00$23,440.00
20 Year Term$4,256.01$47,289.00
30 Year Term$8,944.69$102,225.00
Universal Life$43,040.00$505,100.00
Whole Life$101,692.80$1,220,314.00
45/Male10 Year Term$4,052.56$46,315.00
20 Year Term$8,316.00$95,040.00
30 Year Term$14,803.25$169,180.00
Universal Life$50,480.00$592,140.00
Whole Life$127,094.40$1,525,133.00
50/Male10 Year Term$6,697.25$76,540.00
20 Year Term$13,371.31$152,815.00
30 Year Term$24,636.08$281,555.00
Universal Life$64,340.00$754,180.00
Whole Life$156,902.40
55/Male10 Year Term$12,295.06$140,515.00
20 Year Term$22,237.05$254,137.70
30 Year Term$45,933.45$524,953.70
Universal Life$84,990.00$995,220.00
Whole Life$197,251.20$2,367,041.00
60/Male10 Year Term$18,847.35$215,398.30
20 Year Term$38,715.69$442,465.00
Universal Life$111,620.00$1,305,290.00
Whole Life$248,832.00
65/Male10 Year Term$36,069.69$412,225.00
20 Year Term$75,780.51$866,063.00
Universal Life$157,840.00$1,841,330.00
Whole Life$311,558.40$3,738,701.00
70/Male10 Year Term$60,862.73$695,574.00
20 Year Term$155,634.85$1,778,684.00
Universal Life$221,330.00$2,573,390.00
Whole Life$398,217.60$4,778,611.00
75/Male10 Year Term$124,253.50$1,420,040.00
15 Year Term$232,456.09$2,656,641.00
Universal Life$324,552.00$3,748,555.00
Whole Life$517,017.60
80/Male10 Year Term$226,907.19$2,593,225.00
Universal Life$560,700.00$6,395,520.00
Whole Life$706,492.80$8,477,914.00

100 Million Dollar Life insurance Policy Cost For A Female

  • 100 Million Dollar Term Policy For 30yrs: $20,211.63/monthly, $230,990.00/annually
  • 100 Million Dollar UL Policy: $58,350.00/monthly $684,230.00/annually

*Although these rates are what a quote spits out. The idea of one carrier taking the risk on a 100 million dollar life insurance policy is slim to none. As we explained, it will be broken up into multiple carriers between 10-20 million. 

What Would A 50 Million Dollar Life Insurance Policy Cost

Ok, so after talking about the 100 million dollar life insurance policy cost it almost feels small talking about anything else, even the 50 million dollar life insurance policy cost.

But first, let’s talk about who would be getting this type of policy.

First of all, when I think about a policy like this and the type of client it consists of the first three that come to mind is the key man or a buy-sell agreement to a major corporation, or a professional athlete.

Another that squeaks in is a deferred compensation plan for multiple employees of a corporation. This works wonders on tax-deferred write-offs for a corporation small or large.

Moreover, professional athletes earn millions of dollars of income through contracts and endorsements.

In fact, the lifestyles we see daily for the likes of Lionel Messi, Lebron James, Neymar, and Roger Federer are what dreams are made of.

So it would not be uncommon for athletes such as these to purchase a 50 million dollar life insurance policy. As a matter of fact, it’s literally one year’s income in some cases.

Forbes Top 10 Highest-Paid Professional Athletes (as of 2024)

Top 10 Sports Earnings

Rank Name Sport Total Earnings On-The-Field Earnings Off-The-Field Earnings
1 Cristiano Ronaldo Soccer $136 M $46 M $90 M
2 Lionel Messi Soccer $130 M $65 M $65 M
3 Kylian Mbappé Soccer $120 M $100 M $20 M
4 LeBron James Basketball $119.5 M $44.5 M $75 M
5 Canelo Alvarez Boxing $110 M $100 M $10 M
6 Dustin Johnson Golf $107 M $102 M $5 M
7 Phil Mickelson Golf $106 M $104 M $2 M
8 Stephen Curry Basketball $100.4 M $48.4 M $52 M
9 Roger Federer Tennis $95.1 M $0.1 M $95 M
10 Kevin Durant Basketball $89.1 M $44.1 M $45 M

So there you have it, so it is not so hard to believe that some of these pro athletes would be or have purchased a 50 million dollar life insurance policy.

So what Will A 50 Million Dollar Life Insurance Policy Cost Me

Prudential is one of the carriers I would trust with a big retail policy like 50 million in coverage. Especially for a term policy.

$50,000,000 on a 30yr term with Prudential for an athlete in the middle of their prime, (30 years of age) you are looking at: $2632.44/month, $30,085.00/annually.

Protective Life would be the carrier I would trust with the bulk of this policy.

In some cases, you would need to split it up into a few carriers.

Especially with a UL or a GUL product that guarantees to pay out one day. Depending on how you utilize these policies in some cases they can be used as an investment.

$50,000,000 on a UL/GUL product which is a permanent life policy, for an athlete in their prime, you are looking at: $16,163.62/monthly, $187,513.00/Annually.

25 Million-Dollar Life Insurance Policy Cost

Ok, let’s talk about the small policies, LOL.

All kidding aside, the cost of a 25 million dollar life insurance policy can still be steep depending on the age and health. Again there are 11 million millionaires in this country.

Above all, if you are still working or running a business and you are under the age of 50 then this just might cover loss of income over 2 decades.

The 25 million dollar life insurance policy can also be for a buy-sell agreement for a mid-sized company.

For example, if you have a company with a net worth of 100 million dollars and four partners, then a 25 million dollar life policy for each partner would be perfect.

God forbid if one of the partners dies, the policy would then buy out the family of the deceased.

So let’s see what a 25 million dollar life insurance policy costs!

This is based on a 45-year-old male and female, in great health for a 20-year term to the retirement age of 65.

25 Million Dollar Life Policy For A Male

25 Million Life Policy

25 Million Dollar Life Policy For A Female

25 million in coverage for a women

10 Million Dollar Life insurance Policy Cost

What does 10 million looks like in coverage?

Another multi-million dollar life policy that’s more common these days than in the past is the 10 million dollar life insurance policy.

How much is 10 million dollar life insurance policy?

Most of these policies I have seen in my career have been usually for estate taxes for clients with a net worth ranging from $15 million to $30 million.

With that said, the IRS will come knocking at your door with its hand out when someone passes away with a considerable net worth.

This is usually referred to as the federal estate tax!

A 10 million life insurance policy cost is very common for estates over 25 million.

Call your independent agent to find out how to get a 10 million dollar life insurance policy and the cost of ten million dollars in coverage.

10 Million Whole Life Insurance Policy Cost

Above all, when you are looking for a 10 million dollar life insurance policy much comes to mind.

For instance, are you protecting a specific time like say 20 years or 30 years?

  • What are my monthly premiums going to be?
  • Is the amount of money enough?
  • Will it give me peace of mind?

Overall, your age and health history will be scrutinized.

However, whether it’s a 20-year term or a whole life policy you will need an insurance agent that is on top of his game, is an expert at what he does!

When looking at the best million dollar life insurance policies the person you work with is more important than the company you work with.

But if you are looking for a 10 million dollar whole life policy, you better be working with someone that knows the difference between participating and non-participating.

What PUA/PUAR are? In addition, knowing what the infinite banking concept is (IBC).

Here are the best rates for a $10 million dollar whole-life policy for ages 20-80.

Age/Gender$10,000,000.00 Whole Life PolicyMonthlyAnnually

Multi-Million Dollar Life Insurance Policy For Estate

This year, in 2023, the rules say that you can leave up to $11.7 million to your loved ones, kind of like passing them all your Monopoly money and properties when you’re out of the game. The best part? Uncle Sam won’t take a cut; it’s all tax-free.

If you’re married, it’s like playing in a team. Together, you guys can pass down double the amount, a whopping $23.4 million, without taxes.

But what if you’re really good at this game and you have more than $23.4 million? For instance, you and your spouse have been super successful and built a net worth of $25 million. When you both pass on, the amount over the $23.4 million, which is $1.6 million, could be taxed.

To solve this problem, a $10 million life insurance policy could be your secret weapon. It can cover that tax, making life easier for your loved ones.

You might be thinking, “That sounds good, but what’s the price tag on a $10 million policy?” Stay tuned, we’ll get into that!

Furthermore, if you’re in your early 40s and bringing in over $500,000 a year, this might be a smart move for you.

Another bonus? You can stack your life insurance policies like pancakes. By doing so, you can potentially cut your insurance payments by half. That’s like getting a two-for-one deal at your favorite diner!

So LET’S see what a 10 million life insurance policy will cost!

This is based on a healthy 45-year-old male and female.


10 million life policy for a man


10 million dollar life insurance for a women

5 Million Dollar Life insurance Policy Cost

So we have been through the big policies, doesn’t the 5 million dollar life insurance policy look small?

How much does a 5 million life insurance policy cost?

I mean after talking about billionaires, highest-paid sports athletes, high net worth individuals and estate taxes now we get to the normal stuff, what does 5 mil will cost?

Above all, it’s just another multi-million dollar life policy, right? Now we are getting close to the common folks.

However, we are still in the 1%, affluent population. But a 5 million dollar policy is pretty common for those that make between 250k and 500k annually.

I mean the rule of thumb is at least 10 times your income.

If you are not sure how much life insurance you need, here is a great planner!

So let’s see what a 5 million dollar life policy will cost.

We will base this off of a 40-year-old healthy male and female on a 30yr term that will bring them to retirement age.

5 Million Dollar Life Policy for a Male

5 million life policy for a man


5 million dollar life policy for a women

This should answer the question of how much is a 5 million dollar life insurance policy!

3 million dollar life insurance policy

Above all, when shopping for a multi-million dollar life insurance policy you want you to want to make sure you get exactly what you purchasing.

For instance, the 3 million dollar life policy will be great for someone making between $150k and $300k a year.

In fact, if you are in your 40s you probably still have children that are young or in grade school.

So this will make sure in the event of your death that they will be covered. If you know me, then you know when it comes down to life insurance I like to keep it simple.

We can talk about college, for which the average cost for college was $33,480 for a private college, $9,650 for state residents of public colleges, and $24,930 for out-of-state residents attending universities.

With that said, it really comes down to your paycheck! That is what will cover all of this.

However, if you die, your paycheck dies with you. It is important to maintain between 10 and 20 times your income if you have children below 10 years of age!

3 Million Life Insurance Policy Cost

I recently wrote a case for a widower senior over age 75 for a 3 million dollar GUL with Protective Life.

Her husband had recently passed away and she was left with a net worth of 18 million. She had a second to dies policy for $6 million.

Adding an additional $3 million of coverage will protect her assets from the IRS and the estate and gift tax! She needed and could handle a multi-million dollar insurance policy cost.

Let’s See What A 3 Million Dollar Life Policy Will Cost.

We will base this on a 45-year-old healthy male and female.

The main goal is to get all of the kids out of the house and get to the social security retirement age of 65.

Basically knocking off two birds with one stone!!


3 million life policy for a man


3 million life policy for female

2 Million Life Insurance Policy Cost

How much does a 2 million life insurance policy cost?

If you are buying a 2 million life insurance policy you might be protecting income, the mortgage, or college tuition.

However, whatever the reason, 2 million life insurance protection will give your family a head start.

Below are the rates for a 2 million life insurance premium cost for a 20-year term for a male and female aged 30, 40, 50, and a 60-year-old.

Male/Female/AgeFace amount/TermMonthly
Male/30$2,000,000/20Yr Term$58.81
Female/30$2,000,000/20Yr Term$46.80
Male/40$2,000,000/20Yr Term$96.46
Female/40$2,000,000/20Yr Term$80.14
Male/50$2,000,000/20Yr Term$270.37
Female/50$2,000,000/20Yr Term$194.87
Male/60$2,000,000/20Yr Term$777.29
Female/60$2,000,000/20Yr Term$522.99

No, if you are wondering how much a million dollar life insurance policy costs after reading this article, you may want to go to our 1 million dollar life insurance article.


1. Do I really need a life insurance policy worth millions?

While it might seem overwhelming, if you have dependents who rely on your income, a substantial life insurance policy is crucial. It provides financial security to your loved ones in the event of unexpected circumstances.

2. Isn’t a multi-million dollar life insurance policy too expensive?

While the initial cost may seem daunting, consider the significant financial impact that insufficient coverage could have on your family. The peace of mind that adequate life insurance brings often outweighs the cost.

3. How can I start the process of obtaining life insurance?

Starting is as easy as reaching out for a quote from us. Click on “Get Your Quote Today!” and begin your journey to secure your family’s future.

4. Are you able to provide service if I’m not based in Jacksonville, FL?

Absolutely! While we’re located in Jacksonville, FL, we serve clients across all 50 states. No matter your location, we’re here to help you.

5. How can you assist me with life insurance options?

As boutique life insurance specialists, we have access to over 50 carriers and 300 products. We can help guide you to the policy that best fits your needs and circumstances.

6. How can I trust your expertise in life insurance?

Our broad access to multiple carriers and products, combined with our commitment to serving clients across the nation, speaks to our expertise and dedication in the field of life insurance. We take pride in offering comprehensive coverage options to our clients.

7. Should I consider getting life insurance in my 20s?

Yes, absolutely. Life insurance premiums are generally lower when you’re younger and healthier, so your 20s can be a great time to lock in a lower rate for the long term. Plus, it’s not just about age – it’s about responsibilities. If you have dependents, debts, or you’re planning for future needs like funding a child’s education or ensuring your spouse’s retirement security, life insurance can be a wise investment.

Related Articles


The thought of needing a life insurance policy worth 2 million, 30 million, or even 100 million dollars might seem beyond belief.

Yet, if you’re like most Americans whose families rely on your income for sustenance, ensuring you have adequate coverage for yourself and your loved ones is absolutely crucial in case of unforeseen circumstances.

The perceived cost may initially seem steep, but weigh it against the substantial financial impact of not having enough coverage.

Why not take the first step today with a simple quote from us? Get Your Quote Today!

We’re not just any insurance agency – we’re boutique life insurance specialists based in Jacksonville, FL, but we proudly serve clients across all 50 states. We are experts in the diverse world of life insurance.

With our access to over 50 carriers and a broad selection of 300 products, we confidently state: we’ve got you covered.

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